Expect less than $300M, Williams tells AbitibiBowater

CBC reports late this afternoon that, "Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation."

ABITIBI SAYS ITS ASSETS ARE WORTH $300 MILLION "The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million."

ABITIBI WILL NOT BE COMPENSATED FOR ITS WATER RIGHTS "Williams said AbitibiBowater will be compensated for its physical assets, but not the timber and water rights — and the company should expect to get less than $300 million."

NAFTA CHALLENGE EXPECTED
"The company plans to challenge the expropriation under the North American Free Trade Agreement."

The full article is at
http://www.cbc.ca/money/story/2009/02/18/williams-abitibi.html